Tag Archives: mini

Government claims mini-budget didn’t cause crash are denied as b*ll*cks

Jacob Rees-Mogg, making a gesture that well defines him.

What a moment on Channel 4 News when Gillian Tett of the Financial Times verbally laid into Jacob Rees-Mogg!

He has been trying to blame the UK’s current economic woes on anything but the government’s mini-budget/”fiscal event”.

Maybe he thought he was winning us over…

And then Ms Tett turned up and said it was “bollocks”:

Peter Stefanovic of the CWU has been describing government rhetoric as “bollocks” for a long time now.

I wonder if he’s delighted that his description is catching on.

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Nadhim Zahawi apologises for chaos after Tory fiscal event

It took him a while but he got to it in the end.

Nadhim Zahawi, challenged to apologise for the economic chaos his Conservative colleagues Kwasi Kwarteng and Liz Truss caused with their cack-handed ‘fiscal event’, tried everything he could to avoid saying a simple word: “Sorry.”

He failed.

He tried to say that prime minister Liz Truss had retracted her plan to end the top, 45p, tax rate.

He tried to say – to hilarity from the BBC Question Time audience – that Vladimir Putin would benefit from the UK being divided (as if that was any kind of moral reason to support a wrong decision by his bosses).

But in the end, he had to accept the inevitable:

It isn’t an apology from Truss or Kwarteng.

But is that yet to come?

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Russell Howard on Liz Truss and her mini-budget [VIDEO; STRONG LANGUAGE]

I know we’ve had one analysis after another and you’re probably sick of hearing about this, but Russell Howard’s is too good to miss:

Liz Truss as Andy from Little Britain is something to take away and use everywhere, I think.

Shall we?

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Is Liz Truss preparing to stab Kwasi Kwarteng in the back?

Knife: is Liz Truss plunging one of these into Kwasi Kwarteng’s back – metaphorically, at least?

Wow. New UK prime minister Liz Truss is already showing her vicious side. Who knew she had one?

In what is the BBC’s headline report at the time of writing, Truss lays as much blame for the failure of the Tory ‘fiscal event’ of September 23 on Kwarteng:

She added a decision to cut the top earner tax rate was a “decision that the chancellor made”. And she revealed it was not discussed with the whole cabinet beforehand.

She added that the cut was a decision made by Chancellor Kwasi Kwarteng – prompting former cabinet minister and Boris Johnson loyalist Nadine Dorries to accuse her of throwing him “under a bus”.

Some commentators have picked up on this:

I’m not sure I want to envision Liz Truss “fingering” Kwasi Kwarteng, but I’m looking forward to his Tory conference speech tomorrow (October 3).

Will he retaliate?

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Now the Tories are blaming the results of their nightmare mini-budget on the social media

Watch this:

So there you have it: it’s all the fault of the social media.

I’m glad we’ve cleared that up.

Of course, he doesn’t mean mass-market sites like Facebook, Twitter, Instagram, TikTok or whatever, so they won’t be getting taxed properly, even now – he means sites like Vox Political, with our tiny (in comparison) audiences.

I never knew we were so influential.

Or do you think – is there a teeny, tiny, ever-so-slight, possibility that he might be mistaken?

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Tory mini-budget lies debunked: don’t let them fool you

Gaslighting: Liz Truss and Kwasi Kwarteng (and the rest of their government) are trying to feed you a lot of misleading lines about their policies. Don’t let them.

After crashing the UK economy with their ‘dumb and dumber’ mini-budget/’fiscal event’, Liz Truss, Kwasi Kwarteng and their Conservative government chums are trying to gaslight you into thinking the consequences are not their fault.

Don’t believe a word of it.

Let’s have a look at some of their claims:

First among them must be this nonsense that the mini-budget was economically sound. Here’s one very obvious indicator that it wasn’t:

On her round of radio interviews yesterday (September 29), Liz Truss tried to tell us all that she has capped energy bills at £2,500 per year – indicating that she doesn’t understand her own policy:

The Treasury is trying to tell us changes to stamp duty mean a saving of £11,250 for first-time buyers – but the mortgage would cost people who earn £30,000 a total of £38,000 per year:

How about the claim that cutting taxes is fair because it helps everybody?

And what is the government’s response to complaints? Here’s Ernst Stavro Blofeld- er, Andrew Griffith, and Peter Stefanovic’s response to him:

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International Monetary Fund raps Truss and Kwarteng for ‘increasing inequality’

Liz Truss and Kwasi Kwarteng: they’re pictured in Parliament, which is where they should be right now – apologising for the mess they’ve made and working to sort it out.

The International Monetary Fund has attacked the UK Conservative government’s tax plans, claiming that “large and untargeted fiscal packages” will be responsible for “increasing inequality”.

Here’s the IMF’s statement:

“We are closely monitoring recent economic developments in the UK and are engaged with the authorities.

“We understand that the sizable fiscal package announced aims at helping families and businesses deal with the energy shock and at boosting growth via tax cuts and supply measures.

“However, given elevated inflation pressures in many countries, including the UK, we do not recommend large and untargeted fiscal packages at this juncture, as it is important that fiscal policy does not work at cross purposes to monetary policy.

“Furthermore, the nature of the UK measures will likely increase inequality.

“The November 23 budget will present an early opportunity for the UK government to consider ways to provide support that is more targeted and re evaluate the tax measures, especially those that benefit high income earners.”

It’s a huge slapdown for Liz Truss and her Chancellor, Kwasi Kwarteng – basically saying that the “fiscal event” of last Friday (September 23) was an ideologically-motivated “hit and hope” exercise with no factual support and no chance of success.

The call for re-evaluation in the November 23 budget is a clear warning to re-balance the economy in favour of the “families and businesses” Truss and Kwarteng claimed to be helping, rather than the “high income earners” they actually boosted.

There’s a lot of commentary on this – much of it focusing on the humiliation it signifies for Truss and Kwarteng. Here’s the balanced response from Labour’s Rachel Reeves:

Others were less equivocal:

And there has been a little speculation on how the Tories will react. This seemed on point when I first read it:

Then I found this, which tends to confirm it:

The real question is whether either Truss or Kwarteng will remain in post long enough to deliver a budget that redresses the situation on November 23.

Take a look at these clips, that This Writer found yesterday, and draw your own conclusions:

Is the party over before it has even begun for these two? The number of ‘no confidence’ letters arriving at the office of Sir Graham Brady may indicate that it is.

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Truss and Kwarteng can’t manage the economy – so shouldn’t they just go?

It’s a tried and proven maxim that if a government can’t manage its national economy, it will lose elections.

After Kwasi Kwarteng’s “fiscal event” last Friday, the UK economy tanked. The Pound has now hit its lowest-ever level against the Dollar.

It seems likely Liz Truss will lose the next election because of these choices. And letters may have started trickling in to the 1922 Committee already.

Is her time up already? Watch:

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More ridicule as Jonathan Pie lays into Liz Truss and Kwasi Kwarteng’s mini-budget

Truthbombs abound in the latest clip from Jonathan Pie.

“The economy is in a worse state than my gusset after a nasty follow-through!”

Laugh – and learn:

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Liv Struss explains how the Tory mini-budget (won’t) work [VIDEO]

Here’s a little humour for the beginning of the week.

At least, we all hope it’s humour, don’t we?

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